World Stock Exchanges Ongoing Coverage
The US economy grew by 4% in the fourth quarter of 2020, compared to economists’ expectations of 4.2% • Initial claims for unemployment benefits in the US last week stood at about 847,000 compared to expectations of about 880,000 • Tesla, Apple and Facebook responded to the reports Published yesterday.
The US economy grew by 4% in the fourth quarter of 2020, compared to economists’ expectations of 4.2% • Initial claims for US unemployment benefits last week stood at about 847,000 compared to expectations of about 880,000 • Tesla, Apple and Facebook responded to the reports Published yesterday.
The trading day on Wall Street closed with gains, although they moderated in the last hour of trading. The leading indices recorded increases of 0.5% -1% at the end.
Shares of GameStop, Blackberry and AMC collapsed 41% -55% today in huge volumes after a number of brokerage firms, including Robinhood and Interactive Brokers, restricted trading in them. Some have announced that they will only allow sales instructions to be received by traders who hold the shares and want to sell them. In recent days, huge stocks and sharp fluctuations have been recorded in these stocks, against the background of the activity of young and relatively new day traders in the market, who “dress” mainly for stocks whose “short” balances are particularly high. A sharp rise in this type of stock forces other holders (including hedge funds) to buy back the position, which accelerates the gains.
Sharp rises on Wall Street. The leading indices are now climbing 1.6% -2%. Shares of Disney and American Express lead the gains in the Dow Jones industrial average.
AMC shares are down 48% in a huge turnover after a number of brokerage firms restricted trading in the stock.
Trade in Europe closed with a mixed trend. The Kak index in Paris rose by about 0.9% and on the other hand the Potsy in London retreated by about 0.6%.
The rises on Wall Street are getting stronger. The leading indices are now climbing by 1% -1.8%. The yield on 10-year U.S. government bonds rises to 1.045%.
The stockstop stock is trading in high volatility after opening the day with a sharp rise it moved to a sharp drop of more than 40% and trading in it was stopped. Trading then briefly resumed and the stock plunged more than 60% and trading in it stopped again after several brokerage firms on Wall Street imposed various restrictions on trading in it. Korean asset management company MUST, which was one of the major shareholders in the company, announced that it had recently sold all its holdings.
And Microsoft, on the other hand, stand out with a sharp rise.
Positive opening on Wall Street. Leading stock indices climb 0.7% -0.8%.
The madness that began yesterday with the ‘run’ of the Gamestop share continues today with the share of the American Airlines airline
, Which soared by up to 60% in pre-trade. Although the company has just released its reports, its quarterly results are not what woke investors up. The sharp jump that is taking place now seems to be part of the new phenomenon in the American market – the war of young traders from the WallStreetBets forum in Reddit with the managers of shortlisted funds.
Shares of American Airlines, which suffered badly from the effects of the corona crisis and paralysis of the aviation industry, starred in the list of stocks with the highest short positions – and now speculative day traders seem to have marked it as a target to bring down hedge funds that gambled against the stock.
Game Stop stock
Continues to stand out with very high volatility and lively trading.
, Facebook and Apple
Release reports yesterday after the end of trading and the shares are responding today.
In the macro field, it was announced today that the US economy grew by 4% in the fourth quarter of 2020, compared to economists’ expected growth of 4.2%. The initial claims for unemployment benefits in the US last week were about 877,000 compared to 880,000. Thousand.
Technology company Silicon
Topped the forecasts in the 2020 reports published today, both in the revenue line and in the profit line. Annual revenue was $ 107 million, up 2.1% from 2019, and non-GAAP net income was $ 11 million, down 12.2%. The company from Kfar Saba, which provides communications connectivity solutions, expects revenues of $ 28-29 million in the first quarter of 2021, higher than analysts’ forecasts.
In the shadow of the Gamestop and AMC stock affair, TD Ameritrade and Schwab have announced that they will restrict trading in these stocks and more: “In order to limit risk for our customers and us, we have placed a number of restrictions on trading in these stocks,” the company said.
Trading on Wall Street is expected to open steadily. Futures contracts are trading in a mixed trend, with the contract on the Nasdaq losing 0.7%.
Gamestop shares are soaring pre-trading to $ 500, in what appears to be a continuation of a short squeeze in the market after several hedge funds were forced to close their position against the stock at a loss.
Trading on European stock exchanges is down by up to 1% at the moment, led by the Potassium Index in the UK. Dax drops 0.96% of its value and Kak drops by 0.29%.
Pfizer and Biontech have announced that their vaccine is effective against the South African mutation.
Trade in Europe opened with declines similar to overseas sentiment. The German Dax loses 0.7%, the Kak drops by a similar rate and the British Potsy also loses 0.7% of its value.
Sharp declines in Asian stock markets, following last night’s negative lock on Wall Street.
In China, the Shanghai Composite Index is down 1.48% and the Shenzhen Index is down 2.593%. The Hong Kong Hong Kong Index is down 1.97%.
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